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Question 10 Not yet As per the corporate governance code, an audit committee should be set up and it should be comprised of minimum 3 nonexecutive directors

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Question 10 Not yet As per the corporate governance code, an audit committee should be set up and it should be comprised of minimum 3 nonexecutive directors. You are required to choose from the following the role of an audit committee. answered Marked out of 0.50 Remove flag O a. Appoint the CEO of the company b. Decide the Directors remuneration Oc. Approve remuneration and terms of engagement of the external auditor O d. Appoint all the Directors in a board Question 13 Not yet answered Identify from the following the type of Directors who work in a company on a part-time basis and their remuneration is not based on their performance. Marked out of 0.50 Remove flag @ a. Non Executive Directors o?. Both Executive Directors and Non-Executive Directors oc None of the options Od Executive Directors Question 17 Not yet answered The expectation gap is the difference between what the general public believes the auditor's responsibilities and function to be and the auditor's actual responsibilities. Which TWO of the following beliefs are examples of the expectations gap? Marked out of 0.50 1. Auditors test all transactions and balances. Remove flag 2. An audit gives reasonable assurance that the financial statements are free from material misstatement. 3. Auditors are responsible for the detection of fraud (100 percent). 4. An External Audit is an example of giving Assurance O a. 1 and 3 O b. 2 and 3 Oc. 1 and 2 O d. 1 and 4 Question 18 Which of the following statements is true? Answer saved Marked out of 0.50 Remove flag O a. The shareholders of most companies will also be the directors O b. The shareholders are the agents and the Board of Directors are principals O c The directors are the stewards of the company responsible for looking after the company on behalf of the shareholders od Auditors are allowed to be business partners of the company directors Question 20 Not yet The finance manager of the client company has recently resigned and is now employed as an Audit Senior, and he is now part of the audit team. Which of the following threats to objectivity does the above circumstance give rise to? answered Marked out of 0.50 1. Intimidation threat F Flag question 2. Self-review threat O a. Neither 1 nor 2 O b. Both 1 and 2 Oc 2 only O d. 1 only